Peter's Audio Shop has a cost of debt of 7 percent, a cost of equity of 11 percent, and a cost of preferred stock of 8 percent. The firm has a target capital structure of 53% equity, 34% preferred stock and 13% debt. The company's tax rate is 34 percent. What is the weighted average cost of capital (WACC) for Peter's Audio Shop? 9.15 percent 6.14 percent 9.45 percent 6.54 percent 8.60 percent